Connor Clark & Lunn Investment Management Ltd. Trims Stake in Chubb Limited (NYSE:CB)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 65.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,124 shares of the financial services provider's stock after selling 192,932 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Chubb were worth $29,740,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CB. Pathway Financial Advisers LLC purchased a new stake in Chubb in the 1st quarter worth about $25,000. Beacon Capital Management LLC increased its stake in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Chilton Capital Management LLC bought a new stake in shares of Chubb in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb during the 2nd quarter valued at approximately $28,000. Finally, Kozak & Associates Inc. bought a new position in Chubb in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays began coverage on Chubb in a research report on Wednesday, September 4th. They issued an "overweight" rating and a $349.00 price target for the company. Morgan Stanley increased their price target on shares of Chubb from $295.00 to $300.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Chubb from $291.00 to $294.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $287.37.

Chubb Trading Up 0.2 %

Shares of CB stock traded up $0.69 on Thursday, hitting $283.53. 66,270 shares of the company's stock traded hands, compared to its average volume of 1,596,658. The stock has a market capitalization of $114.29 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 6.62 and a beta of 0.67. The company's fifty day simple moving average is $287.60 and its 200 day simple moving average is $273.95. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion for the quarter, compared to analysts' expectations of $14.16 billion. During the same period last year, the firm earned $4.95 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that Chubb Limited will post 21.77 EPS for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb's payout ratio is currently 14.91%.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 6,599 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total value of $1,894,308.94. Following the transaction, the executive vice president now owns 84,101 shares of the company's stock, valued at approximately $24,142,033.06. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock valued at $23,803,540 in the last quarter. Insiders own 0.86% of the company's stock.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.